Why OFS Portal
The OFS Portal community brings together Supplier Members, Operators and Procurement Platforms toward a common interoperability model which includes enforcement of proper data protection and ownership as well as the use of open industry standards in a cost-effective manner, making cost-effective B2B eCommerce a reality and the common practice for the Oil & Gas industry.
Supplier Benefits
Membership in OFS Portal gives suppliers an opportunity that enables them to scale their global footprint so they can grow and expand with confidence. An OFS Portal Membership provides suppliers with the tools to help streamline their eCommerce platform, increasing the efficiency and integrity of each transaction as the transaction volume grows. Other benefits include:
Joining An Established Community
Through an OFS Portal Membership, suppliers become a part of a growing community that has more than 20 years of industry experience and a supplier-focused approach to eCommerce implementations. Membership enables suppliers the ability to solve industry issues through collaborative OFS Portal-led workgroups in an environment that respects antitrust laws, as well as a forum to share appropriate business process/eCommerce deployment experiences.
Well-defined Data Protection, Ownership & Governance in eCommerce Implementations
- We provide a legal framework that is regarded as an industry best practice and protects the confidentiality of sensitive data and trade secrets for both suppliers and operators
- Members are third-party beneficiaries to all agreements currently in place with an established community of operators and procurement platforms
- Our legal agreement provides that Members do not pay transaction fees to networks required by an operator, thus giving them control over their supply chain expenses and contributes to long-term savings and efficiencies
Reduced DSO & eCommerce Implementation Costs With A Standard Scalable Model
- Our agreement enables a standard way of implementing eCommerce utilizing a free and open industry standard
- OFS Portal Members typically see a 10-day reduction in DSO by going digital with their customers
- Our eCommerce model is widely supported and accepted by major eCommerce procurement platforms in the Oil & Gas industry
- We provide a single Catalog management format for all customers through the OFS Portal Catalog Management & Syndication service
- Our team is available to provide full Catalog training to Members’ Catalog teams as well as their customers
*Optional discreet functionality/suppliers must opt-in for this service
A Standard Access Point for International Government eInvoicing & Tax Compliance*
- OFS Portal Membership allows connection with an established access point designed for our Members to integrate with their international customers in a tax compliant manner according to government mandates (currently includes Colombian DIAN, Italian FATTURA PA, Mexican CFDI, Indian IRP)
- OFS Portal project management team works alongside Members’ technical teams from start of project through deployment
Operator Benefits
OFS Portal understands the importance of maximizing the benefits while minimizing the costs and risks associated with eCommerce in the procurement to pay environment.
There are no fees for operators to join the OFS Portal community. By joining the OFS Portal community, operators benefit from:
- A legal framework to transact electronically in a confidential and reliable manner using open industry standards in a B2B environment
- A license to use a supplier’s electronic content (defined rights to the data), including access to the Catalog Management & Syndication tool to receive supplier managed pricebooks
- Data stewardship by defining ownership and specific provisions on how transactional data is handled by both operators and procurement platforms
Procurement Platform Benefits
There are no fees for procurement platforms to join the OFS Portal community. By joining the OFS Portal community, Procurement Platforms benefit from:
- Gaining access to a standard way to implement eCommerce using industry best practices with some of the largest oilfield suppliers and operators
- Leveraging the OFS Portal Interoperability Agreement to reinforce proper governance regarding data protection and ownership
- Connecting with Member suppliers, Operators and other Procurement Platforms in the OFS Portal Community at the OFS Portal Annual Conference and other networking events
- Leveraging the knowledge within OFS Portal to help establish integration between platform customers and OFS Portal Members